Page 667 – Property118

To buy or not to buy a BTL in Norwich?

1st December 2016

I am looking to buy in Norwich where prices have increased by 14.8% in the last 12 months. Frankly I don’t want to buy anywhere else as like to manage properties myself. In order to buy the house I am interested in, which has a very strong rental return I will need to pay asking-price. […]

Manchester’s Urban Village

1st December 2016

It’s no secret that Manchester is an immensely popular city for investors. With an economy that generates £56bn annually and awards such as ‘Property Hotspot for the Decade’ under its belt, the UK’s ‘most liveable city’ is growing at three times rate of the national average. Those with a stake in the city will be […]

Am I liable for sitting tenant’s council tax?

1st December 2016

I purchased a flat with a sitting tenant and the tenant never paid his council tax bills for two years. The council has failed to get a response from him. Would I be liable to pay the council tax due on the account. I have purchased the flat in Feb 2016 and the tenant was […]

Help Limited company accounts and tax return

1st December 2016

Looking for some help please. I have just incorporated to provide a managing company to my properties and to buy a future property through. I have always done my own self assessment as reasonably good with excel and numbers but can’t find any good templates or guides for when it comes to corporation tax and […]

Podcast to understand landlord obligations as Right to Rent becomes criminal offence

1st December 2016

From today, 1st December 2016, under The Immigration Act 2016, there is a new maximum criminal sentence of 5 years’ imprisonment for landlords or agents who fail to carry out ‘Right to Rent’ checks or remove illegal migrants from their property. With concerns that more than half of landlords don’t understand their obligations, Hamilton Fraser […]

£692 water bill for two months!!!

1st December 2016

In one of the properties I own the water is included in the services charges, which is very unusual but for the last 12 years hasn’t been a problem.  If the usage is particularly high (over 30 cubic metres in a quarter) I would look to charge the tenants, otherwise I include the water charges […]

BTL apartments in Basingstoke town centre

30th November 2016

An excellent opportunity to invest in an apartment in Basingstoke, where capital growth is projected to be 20% and net yields of 6% are achievable. Highly desirable due to its proximity to the town centre; easy commute to London, Southampton and Reading. Knight Frank and Savills reports confirm that the highest growth areas are those […]

Build flaw in new apartment lead to flood and denials?

30th November 2016

We have recently had a BTL unit suffer severe water damage from an incorrectly installed toilet filling valve, which was cross threaded so over time it was inevitable it was going to leak, and the soldered joints in the brass piping in the bathroom walls had separated as they were not fully fluxed when first […]

Your accounts won’t be worth the paper they are written on after 2021

30th November 2016

As anyone considered what will happen when a landlord who can ill afford to incorporate goes to his bank or any other lender after 2021 to borrow money. Lets say for example the landlord has always made a profit of £30k but rises to £60k after 2021 based on the new tax regime. The conversation […]

ATED – Impact on Limited Company Landlords?

30th November 2016

Talking to my accountant this morning about buying properties to renovate and sell within a limited company he mentioned a thing called ATED – Annual Tax on Enclosed Dwellings. While it shouldn’t impact me immediately/directly (because what I’m looking to buy will be less than the threshold and I plan to sell rather than rent […]

Keeping the freehold after selling 3 BTL properties

29th November 2016

Seeking advice on selling 3x BTL properties and keeping the freeholds. What clauses can be written into the lease for Ground Rent and Maintenance that will enable me to make money, are reasonable and will create an asset for later sale potentially. Property 1 is a standalone 2 bed coach house in a Swindon with […]

What am I entitled to if tenant leaves after 1 month?

29th November 2016

I had a tenant that signed a 6 month contract; paid deposit and 1st months rent. Decided after approx 1 month to just leave!; did notify me via email they had gone. I get conflicting legal advice on what I can claim for. He seems to think he can get his deposit back via the […]

Advice on settling a Subsidence Claim

29th November 2016

We own a commercial premise which we trade from. Our neighbour has developed land directly at the back of our property. When he excavated the site we experienced subsidence. Our neighbour proved to be awkward to deal with. Please note prior to the build we did engage the services of an architect who was supposed […]

RTM Company wants to quit but freeholder refuses to accept management

29th November 2016

We have been RTM for 4 years and started off with 8 Directors. We have been at legal loggerheads with our freeholder – whom insists that we are not managing the building properly and has threatened taking legal action against the RTM Company and several leasees whom are in breach of covenant. As a result […]

Litigation Looms For Greedy Letting Agents

29th November 2016

Many blame Foxtons for the Chancellors decision to ban letting agents charging fees to tenants. Unsurprisingly, Foxtons have seen their share price plummet, but that’s far from the end of their troubles. Litigation also looms! Lawyers acting for landlord clients of Foxtons are planning to bring claims to force the company to pay all undisclosed fees […]

Unsavoury goings on?

29th November 2016

In a conversion building , one of the owner/Leaseholders ( no share in Freehold) is a thoroughly undesirable element. He has unsavoury ‘visitors’ arriving at all hours of the day and night and in many other ways is in complete contravention of the terms of his lease. This has been going on for years, but […]

71% of Tenants Will Pay Landlord Tax Hike

28th November 2016

A recent survey Property118.com landlords has revealed that 71% of them will pass on Government tax hikes in the form of increased rents to tenants.  Nearly 1,000 landlords have already responded to the latest survey of Property118 members, the UK’s leading online resource for private landlords to share best practice. Buy to Let mortgage lending criteria […]

Viewing Clause vs Right to Quiet Enjoyment

28th November 2016

Currently renting a property and only a few months into the 12 month contract. There have been viewings arranged and undertaken for the last several weeks every day (Mon-Fri) and most of the time there are multiple viewings a day. The AST contains a clause stipulating the following: The tenant shall permit the property to […]

Tenancy Deposit Repair Kit

28th November 2016

With ever more complicated legislation being introduced it is becoming more common for both landlords and agents to make mistakes when it comes to compliance. But what are the consequences of failing to protect a tenants deposit and correctly serve prescribed information within the 30 day period allowed, and more importantly what are the solutions […]

Wolverhampton’s 1st ‘Official’ 5 Star Landlord & Agent

28th November 2016

City of Wolverhampton Council has named its first 5 star landlord under the new ‘Rent with Confidence’ scheme. Lyndon Whitehouse, Director of L&A Lettings, owns several 5 star properties in the city and has also been granted five-star agent status. The rating system is similar to the one used by the Food Standards Agency for […]

S21 or S8 but no EPC – Which will be quicker?

28th November 2016

Please be gentle as this is my first post, especially when you get to to EPC part. I have a DSS tenant who is 3 months overdue on her rent. I served S21 and S8 notices a few weeks ago. The s8 notice is due to expire on 29th November and the s21 notice on […]